RUT Holding the Uptrend

The Russell 2000 continues to hold the uptrend, and broke above the short-term downtrend channel that had started about 4 weeks ago. The key wiil be to continue holding above this level. The RUT found support at the top of that line today and finished up strong in the 850 area which has some horizontal resistance.

RUT 1 yr / Daily Chart

We have a nice sideways pattern playing out on the RUT right now --